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Nonprofiteer
← AMERICAN ACADEMY OF OPTOMETRY

Form 990 for tax year 2022

Filed by AMERICAN ACADEMY OF OPTOMETRY.

Totals

Total revenue
$8,563,571
Total expenses
$9,933,404
Contributions and grants received
$413,423
Grants paid
$507,000
Program service revenue
$7,288,157
Investment income
$626,682
Other revenue
$235,309
Total assets, end of year
$12,107,546
Total liabilities, end of year
$2,885,876
Net assets or fund balances, end of year
$9,221,670
Program services expenses (Part IX)
$8,658,563
Management and general expenses
$1,274,841
Fundraising expenses
$0
Program service expenses (Part III)
$8,658,563

Program services were 87.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $413,423

  • 2a · Program service revenue: ANNUAL MEETING

    total $5,127,111 · related or exempt $5,127,111

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $2,160,796 · related or exempt $2,160,796

  • 2c · Program service revenue: PUBLICATIONS

    total $250 · related or exempt $250

  • 3 · Investment income

    total $308,786 · excluded $308,786

  • 5 · Royalties

    total $235,209 · excluded $235,209

  • 7a · Gross sales of assets other than inventory

    securities $3,390,966

  • 7b · Less cost or other basis and sales expenses

    securities $3,073,070

  • 7c · Gain or loss

    securities $317,896

  • 7d · Net gain or loss

    total $317,896 · excluded $317,896

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $100 · excluded $100

  • 11e · Other revenue, total

    $100

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $436,000 · program services $436,000

  • 2 · Grants to domestic individuals

    total $63,000 · program services $63,000

  • 3 · Grants to foreign organizations and individuals

    total $8,000 · program services $8,000

  • 5 · Compensation of officers, directors and key employees

    total $402,522 · program services $298,982 · management and general $103,540

  • 7 · Other salaries and wages

    total $1,345,558 · program services $999,430 · management and general $346,128

  • 8 · Pension plan contributions

    total $93,472 · program services $69,429 · management and general $24,043

  • 9 · Other employee benefits

    total $167,369 · program services $124,352 · management and general $43,017

  • 10 · Payroll taxes

    total $143,523 · program services $106,604 · management and general $36,919

  • 11b · Fees: legal

    total $36,883 · management and general $36,883

  • 11c · Fees: accounting

    total $29,663 · management and general $29,663

  • 11f · Fees: investment management

    total $36,680 · management and general $36,680

  • 11g · Fees: other

    total $583,655 · program services $553,569 · management and general $30,086

  • 12 · Advertising and promotion

    total $96,808 · program services $96,808

  • 13 · Office expenses

    total $432,822 · program services $393,215 · management and general $39,607

  • 14 · Information technology

    total $560,580 · program services $497,427 · management and general $63,153

  • 16 · Occupancy

    total $199,170 · program services $147,936 · management and general $51,234

  • 17 · Travel

    total $337,621 · program services $291,873 · management and general $45,748

  • 19 · Conferences, conventions and meetings

    total $3,665,947 · program services $3,381,766 · management and general $284,181

  • 22 · Depreciation, depletion and amortization

    total $303,300 · program services $225,280 · management and general $78,020

  • 23 · Insurance

    total $80,500 · program services $66,592 · management and general $13,908

  • 24a · Other expenses: JOURNAL

    total $535,575 · program services $535,575

  • 24b · Other expenses: SPEAKERS

    total $230,918 · program services $220,300 · management and general $10,618

  • 24c · Other expenses: PRINTING

    total $108,756 · program services $108,756

  • 24d · Other expenses: DUES TO OTHER ORG.

    total $26,567 · program services $26,567

  • 24e · All other expenses

    total $8,515 · program services $7,102 · management and general $1,413

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $452,909 · end of year $103,461

  • 2 · Savings and temporary cash investments

    beginning of year $1,018,245 · end of year $137,383

  • 3 · Pledges and grants receivable

    beginning of year $140,000 · end of year $140,000

  • 4 · Accounts receivable

    beginning of year $128,034 · end of year $295,150

  • 9 · Prepaid expenses and deferred charges

    beginning of year $398,932 · end of year $348,497

  • 10a · Land, buildings and equipment: cost or other basis

    $2,718,168

  • 10b · Land, buildings and equipment: accumulated depreciation

    $435,351

  • 10c · Land, buildings and equipment, net

    beginning of year $1,461,352 · end of year $2,282,817

  • 11 · Investments: publicly traded securities

    beginning of year $9,303,242 · end of year $8,178,662

  • 15 · Other assets

    beginning of year $91,769 · end of year $621,576

  • 17 · Accounts payable and accrued expenses

    beginning of year $312,608 · end of year $538,374

  • 19 · Deferred revenue

    beginning of year $2,243,198 · end of year $2,034,325

  • 25 · Other liabilities

    beginning of year $19,404 · end of year $313,177

  • 27 · Net assets without donor restrictions

    beginning of year $8,794,882 · end of year $7,339,988

  • 28 · Net assets with donor restrictions

    beginning of year $1,624,391 · end of year $1,881,682

Mission and programs · 2022

Mission

TO MAINTAIN AND ENHANCE EXCELLENCE IN OPTOMETRIC PRACTICE

  • ANNUAL MEETING: THE ANNUAL MEETING WAS HELD TO EXCHANGE MEDICAL AND SCIENTIFIC KNOWLEDGE RELATING TO THE FIELD OF OPTOMETRY. THE ANNUAL MEETING INCLUDES THE CONTINUING EDUCATION PROGRAM THAT CONSISTS OF MORE THAN 280 COURSES AND PROMOTES KNOWLEDGE ON ALL ASPECTS OF THE OPTOMETRY PRACTICE. THE ANNUAL MEETING HAD 8,246 ATTENDEES, 6,719 OF THOSE ATTENDEES WERE NON-EXHIBITORS.

    Expenses $5,670,892 · Revenue $5,127,111

  • SECTIONS AND MEMBERSHIP: THE AMERICAN ACADEMY OF OPTOMETRY'S (ACADEMY OR AAO) SECTIONS ALLOW FOR THE EXCHANGE OF MEDICAL AND SCIENTIFIC KNOWLEDGE RELATING TO SPECIALTIES WITHIN THE FIELD OF OPTOMETRY. MEMBERSHIP DUES AND APPLICATIONS FEES ARE RECEIVED IN EXCHANGE FOR MEMBERSHIP BENEFITS SUCH AS ACCESS TO LOCAL CHAPTERS TO MAKE IT EASY TO KEEP IN TOUCH THROUGH SOCIAL FUNCTIONS AND STUDY BETWEEN REGULAR ANNUAL MEETINGS AND ABILITY TO JOIN ONE OR MORE OF THE SECTIONS AND SPECIAL INTEREST GROUPS DEVOTED TO VARIOUS AREAS OF FOCUS. THERE WERE 7,038 ACTIVE MEMBERS AS OF THE LAST DAY OF FISCAL YEAR 2023.

    Expenses $1,255,969 · Revenue $2,160,796

  • THE ACADEMY PROVIDES DIRECT SUPPORT FOR STUDENTS PURSUING EDUCATION, PROFESSIONALS PURSUING RESEARCH, AND/OR OVERALL ADVANCEMENT IN THE OPTOMETRY PROFESSION.

    Expenses $1,143,378 · Grants $507,000

  • PUBLICATIONS: THE ACADEMY'S JOURNAL, OPTOMETRY & VISION SCIENCE, ARCHIVES THE ADVANCEMENT OF PRIMARY EYE CARE BY PUBLISHING CURRENT RESEARCH IN THE FIELD. THE ACADEMY'S NEWSLETTERS INFORMS MEMBERS OF ACTIVITIES AND PROMOTES FELLOWSHIP.

    Expenses $588,324 · Revenue $250

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard Jones

    CHIEF FINANCIAL OFFICER

    Total calculated
    $217,926
    From this org
    $193,638
    From related orgs
    $0
    Other
    $24,288
    Hours/week
    27 + 13 related

    Schedule J breakdown matched by us

    Base
    $190,138
    Bonus
    $3,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $24,288
    Filer's total
    $217,926

  • Peter Scott

    CHIEF EXECUTIVE OFFICER (THRU 8/22)

    Total calculated
    $194,922
    From this org
    $173,201
    From related orgs
    $0
    Other
    $21,721
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $173,201
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $21,721
    Filer's total
    $194,922

  • Helen Viksnins

    VP, EDUCATION/PROFESSIONAL RELATIONS

    Total calculated
    $162,171
    From this org
    $140,814
    From related orgs
    $0
    Other
    $21,357
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,814
    Bonus
    $2,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $21,357
    Filer's total
    $162,171

  • Elizabeth Taylor

    VP, MEETINGS & INDUSTRY RELATIONS

    Total calculated
    $128,632
    From this org
    $118,406
    From related orgs
    $0
    Other
    $10,226
    Hours/week
    40

  • Joel Laborde

    VP OF STRATEGIC INITIATIVES

    Total calculated
    $121,305
    From this org
    $103,389
    From related orgs
    $0
    Other
    $17,916
    Hours/week
    30 + 10 related

  • Trish Shomion

    CHIEF EXECUTIVE OFFICER (AS OF 3/23)

    Total calculated
    $0
    Hours/week
    30 + 10 related

  • Susan Cotter

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Barbara Caffery

    IMMEDIATE PAST-PRES. (THRU 10/22)

    Total calculated
    $0
    Hours/week
    10

  • Timothy McMahon

    IMMEDIATE PAST-PRES. (AS OF 10/22)

    Total calculated
    $0
    Hours/week
    10

  • Jeffrey Walline

    PRESIDENT-ELECT

    Total calculated
    $0
    Hours/week
    10

  • Carl Spear

    SECRETARY-TREASURER

    Total calculated
    $0
    Hours/week
    10

  • Nicholas Colatrella

    BOARD MEMBER (AS OF 10/22)

    Total calculated
    $0
    Hours/week
    10

  • Jennifer Coyle

    BOARD MEMBER (THRU 10/22)

    Total calculated
    $0
    Hours/week
    10 + 5 related

  • Andrew Mick

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Chris Wilmer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Nancy Wong

    BOARD MEMBER (AS OF 10/22)

    Total calculated
    $0
    Hours/week
    10

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
ALL EMPLOYEES ARE ELIGIBLE TO RECEIVE UP TO $25 A MONTH FOR GYM AND HEALTH CLUB DUES. ON A CASE BY CASE BASIS, BUSINESS CLASS TRAVEL IS ALLOWED FOR LONG INTERNATIONAL FLIGHTS. DUE TO THE PANDEMIC AND SAFETY CONCERNS, BUSINESS CLASS WAS ALLOWED FOR LONG DOMESTIC FLIGHTS FOR BOARD AND STAFF.
PART I, LINE 7
THE BOARD OF DIRECTORS DISCUSSES AND DETERMINES THE BONUS BASED ON THE TOTAL BONUS POOL, WHICH IS ALLOCATED AMONG STAFF.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
25 April 2024
IRS schema version
2022v5.0
Source object
202441279349302654

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